DSM opens service center in Hyderabad

HYDERABAD, INDIA (Dec. 5, 9:50 a.m. ET) — Royal DSM NV has opened a shared services center in Hyderabad to support all its global business units.

The Dutch company has operations in engineering plastics, pharmaceuticals and nutrition. The company said it plans to triple its sales in India over the next three years, from a current level of $200 million annually.

The center will initially manage back-office finance and accounting activities and later expand into services like transactional procurement, human resources and IT.

The facility started operations with 75 employees and will increase the headcount to 250 in the next three years.

Earlier this year DSM moved its engineering plastics global headquarters to Singapore. DSM Engineering Plastics has major operations in Evansville, Ind., and Sittard, the Netherlands.